NYK acquires remainder of Ceres Terminals Europe

NYK acquires remainder of Ceres Terminals Europe Nippon Yusen Kaisha (NYK), the Japanese shipping and logistics company, has increased its stake in Ceres Container Terminals Europe B.V. and now owns 100 percent of the company.
   In October 2002, Tokyo-based NYK became the main shareholder of Ceres in the United States and part shareholder of the Ceres Terminals Europe. Ceres said previously that at the end of 2006 the remaining shares of the Ceres Terminals Europe would be bought by NYK.
   Ceres Container Terminals Europe manages container terminal operations in Amsterdam, including the Ceres Paragon Terminal, a terminal with a notched berth that allows ships to be worked with container cranes from two sides.
   Currently, among the Asia/Europe services operated by the Grand Alliance, a cooperative organization to which NYK belongs, EU1 and EU2 call at the Ceres Paragon Terminal.